GameStop stock drops due to lack of strategy details during shareholder meeting

From Yahoo Finance: 2024-06-17 14:27:44

GameStop stock (GME) dropped 15% during the shareholders meeting as CEO Ryan Cohen discussed the company’s focus on profitability but provided few strategy details. The company raised over $3 billion in proceeds from stock offerings in the past month and emphasized the importance of a strong balance sheet. The meeting was delayed last week due to technical issues from high listener volume. The meme frenzy surrounding GameStop reignited when Keith Gill, known as Roaring Kitty, returned to social media. Gill believes in the management, particularly Ryan Cohen, and confirmed his GameStop holdings on social media.



Read more at Yahoo Finance: GameStop stock tanks 15% during shareholder meeting as few details on strategy emerge